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Korea Herald
24-04-2025
- Business
- Korea Herald
SK hynix Q1 net profit shoots up on HBM, beats market expectations
SK hynix Inc. said Thursday its first-quarter net profit more than quadrupled on rising demand for artificial intelligence chips, including high bandwidth memory, exceeding market expectations. The world's second-largest memory chipmaker said in a regulatory filing that its net income reached 8.1 trillion won ($5.7 billion) for the January-March period, up from 1.92 trillion won a year earlier. Its operating income soared 157.8 percent on-year to 7.44 trillion won for the quarter, compared with 2.88 trillion won a year ago. Revenue rose 41.9 percent to 17.63 trillion won. Both operating profit and sales marked the second-best quarterly results following the record highs in the fourth quarter of last year. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 5.48 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. SK hynix attributed the better-than-expected bottom line to strong demand for AI memory, solidifying its status as a world leader in HBM technology. "The memory market ramped up faster than expected due to competition to develop AI systems and inventory accumulation demand," SK hynix said. SK hynix said its annual HBM sales for 2025 are expected to double from those of 2024, with sales orders for 2025 already secured. Its Chief Executive Officer Kwak Noh-jung previously mentioned that the company has sold out this year's HBM production, supplying its 12-layer HBM3E product to major customers, including Nvidia Corp. Sales of 12-layer HBM3E, currently the most advanced HBM in mass production, are expected to account for over half of its total HBM3E sales in the second quarter. For the sixth-generation HBM4 chips, SK hynix plans to complete preparations for mass production by the end of this year. "SK hynix will focus on products with demand feasibility and profitability to enhance investment efficiency," Kim Woo-hyun, chief financial officer at SK hynix, said. "As an AI memory leader, we will strengthen collaboration with partners and carry out technological innovation in efforts to continue profit growth with industry-leading competitiveness." (Yonhap)
Korea Herald
08-04-2025
- Business
- Korea Herald
Samsung Electronics Q1 operating profit down 0.15%
Samsung Electronics Co. on Tuesday estimated its first-quarter operating profit edged down 0.15 percent from a year earlier but exceeded market expectations on strong sales of its new flagship smartphones. The world's biggest maker of memory chips expected an operating profit of 6.6 trillion won ($4.5 billion) for the quarter ending in March, according to an earnings guidance released by Samsung Electronics. The operating profit was 33.5 percent higher than the average estimate of 4.9 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Sales increased 9.8 percent to 79 trillion won. The data for net income was not available. Experts noted the better-than-expected performance may be attributable to the popularity of the new Galaxy S25 smartphones, which went on sale in February. Samsung Electronics did not release a detailed earnings report of its business divisions, but the market forecast that the company's semiconductor business earned around 1 trillion won in operating profit for the first quarter. The company will release its final earnings report later in the month. (Yonhap)
Korea Herald
21-02-2025
- Business
- Korea Herald
BOK expected to cut interest rate next week.: poll
The South Korean central bank is widely expected to lower its policy rate by 0.25 percentage point next week in an effort to prop up the economy, a poll showed Friday. According to a survey conducted by Yonhap Infomax, the financial news arm of Yonhap News Agency, 20 out of 21 local analysts and experts polled predicted the Bank of Korea will cut its base rate to 2.75 percent from the current 3 percent at its next rate-setting meeting slated for Tuesday. In January, the BOK kept its benchmark interest rate frozen in the wake of the weak local currency amid political chaos and uncertainties stemming from US President Donald Trump's new administration. The on-hold decision came on the heels of two rate cuts in the October and November meetings. "The country is facing growing downside risks centering on weak domestic demand, while the won's further weakness seems limited, which would lead the BOK to lower the policy rate by 25 basis points," said Kim Seon-tae, an expert from KB Kookmin Bank. Nineteen out of the 21 analysts polled anticipated the key rate to be lowered to 2.5 percent in the first half of this year. The central bank is scheduled to present an adjusted growth forecast Tuesday. BOK Gov. Rhee Chang-yong has hinted at slashing the outlook to around 1.6 percent from its previous forecast of a 1.9 percent expansion. South Korea's potential growth rate is at 2 percent, and this year may mark the first time ever that the country's yearly growth rate falls below the level. (Yonhap)
Korea Herald
16-02-2025
- Business
- Korea Herald
Foreign holdings of S. Korean stocks at lowest level in 1 1/2 yrs amid Trump tariff woes
Despite the recent upbeat stock market, foreign ownership of South Korean shares has fallen to the lowest level in nearly 1 1/2 years, data showed Sunday. Foreign investors' holdings of Korean stocks on the benchmark Korea Composite Stock Price Index accounted for 31.96 percent, or 676.43 trillion won ($468.53 billion), of the total market capitalization as of Thursday, according to the data compiled by Yonhap Infomax, the financial data firm of Yonhap News Agency. It marked the lowest level since Sept. 20, 2023, when offshore investors owned 31.97 percent of KOSPI-listed stocks. Foreign investors net sold local stocks for the sixth consecutive month in January. This month alone, they have sold a net 1.75 trillion won worth of stocks on the main bourse, even though the KOSPI has risen 8 percent so far this year. Foreign sell-offs came amid concerns about the impact of US President Donald Trump's sweeping tariffs on the South Korean industry and the broader economy. Investors also remained wary of the domestic political situation following now-suspended President Yoon Suk Yeol's shocking martial law declaration on Dec. 3, 2024, as well as weak growth momentum, according to experts. "The tariff issue could further affect the domestic stock market, as chances seem limited for South Korea to have negotiations with the US and adjust the policy through top-level talks given domestic circumstances," said Lee Young-won, an expert from Heungkuk Securities. Foreigners have sold 1.82 trillion won worth of top-cap Samsung Electronics so far this year, followed by shares of No. 1 carmaker Hyundai Motor, worth 701 billion won, and leading financial firm KB Financial Group shares, worth 316 billion won, the data showed. On Friday, the KOSPI rose 0.31 percent to close at 2,591.05, marking the highest level since Oct. 30, 2024. (Yonhap)
